Revenue Performance - Total revenue for the six months ended June 30, 2023, was RMB 1,158,561 thousand, a decrease of 8.5% compared to RMB 1,266,078 thousand for the same period in 2022[7] - Revenue from the sale of pipeline natural gas and liquefied natural gas was RMB 1,022,216 thousand, down from RMB 1,140,102 thousand, representing a decline of 10.4%[7] - Revenue from construction and installation services increased to RMB 103,436 thousand, up 11.8% from RMB 92,454 thousand in the previous year[7] - The company's revenue for the first half of 2023 was RMB 1,158.6 million, compared to RMB 1,266.1 million in the same period of 2022, indicating a decrease of approximately 8.5%[50] - The revenue from the mainland China segment for the six months ended June 30, 2023, was RMB 1,158,561,000, a decrease of 8.5% compared to RMB 1,266,078,000 for the same period in 2022[78] - The group's revenue for the period was RMB 1,158.6 million, a decrease of 8.49% compared to RMB 1,266.1 million in the same period last year, primarily due to a reduction in natural gas sales prices for non-residential users starting in 2023 and a decline in natural gas demand in Huzhou City during the reporting period[91] Profitability - Basic and diluted earnings per share for the six months ended June 30, 2023, were RMB 84,480, while there were no earnings reported for the same period in 2022[12] - For the first half of 2023, the company's gross profit was RMB 117.3 million, a significant increase of 1,932.81% compared to a gross loss of RMB 6.4 million in the same period last year[23] - Gross profit for the same period was RMB 117.3 million, compared to a gross loss of RMB 6.4 million in the same period of 2022[64] - The net profit attributable to the owners of the parent company for the first half of 2023 was RMB 75.8 million, compared to RMB 54.7 million in the same period of 2022, reflecting a year-on-year increase of 38.5%[50] - The profit attributable to owners of the company for the six months was RMB 53.9 million, an increase of 3.65% compared to RMB 51.976 million in the same period of 2022[64] - The profit attributable to equity holders of the parent company was RMB 53.9 million, compared to RMB 52.0 million in the same period last year, with basic and diluted earnings per share at RMB 0.266, down from RMB 0.347[109] Taxation - The company reported a total tax expense of RMB 24,239 thousand for the six months ended June 30, 2023, compared to RMB 18,536 thousand for the same period in 2022, reflecting a 30.0% increase[11] - The income tax expense for the period increased by 30.81% to RMB 24.2 million from RMB 18.5 million in the same period last year, with an effective tax rate of 24.20%[140] - The company has tax incentives for its subsidiaries, which will be exempt from corporate income tax for three years starting from the first year of revenue generation[10] Financial Position - Non-current assets totaled RMB 1,103.366 million as of June 30, 2023, compared to RMB 1,080.226 million as of December 31, 2022[68] - Current assets amounted to RMB 1,182.823 million as of June 30, 2023, down from RMB 1,218.617 million as of December 31, 2022[68] - Trade receivables and notes receivable were RMB 70.302 million as of June 30, 2023, compared to RMB 58.255 million as of December 31, 2022[68] - Cash and cash equivalents were RMB 1,003.635 million as of June 30, 2023, down from RMB 1,079.703 million as of December 31, 2022[68] - As of June 30, 2023, the total current liabilities amounted to RMB 837,688,000, a decrease of 3.9% from RMB 866,940,000 as of December 31, 2022[69] - The net current assets were RMB 345,135,000, down from RMB 351,677,000, indicating a decline of 1.5%[69] - The total assets minus current liabilities stood at RMB 1,448,501,000, reflecting a slight increase of 1.2% from RMB 1,431,903,000[69] - The total non-current liabilities increased to RMB 259,963,000, up 10.8% from RMB 234,588,000[69] - The company's capital debt ratio as of June 30, 2023, was approximately 2.40%, up from 0.73% as of December 31, 2022[36] - As of June 30, 2023, the group's current ratio was 1.41, and the debt-to-asset ratio was 48.01%, slightly up from 47.92% as of December 31, 2022[124] Other Income and Gains - The company’s other income and gains totaled RMB 1,077,771 thousand for the six months ended June 30, 2023, down from RMB 1,214,770 thousand in the previous year, indicating a decrease of 11.3%[9] - The group reported other income of RMB 20.5 million, significantly down from RMB 105.8 million in the same period last year, with government grants dropping from RMB 101.0 million to RMB 3.7 million[103] - The group's other income and gains for the period were RMB 22.3 million, a decrease of 80.74% compared to RMB 115.8 million in the same period last year, mainly due to a reduction in financial subsidies[139] Employee and Operational Metrics - The group employed a total of 435 employees in China as of June 30, 2023, compared to 427 employees a year earlier[128] - The group’s employee costs totaled approximately RMB 39.8 million during the period[144] Corporate Governance and Compliance - The company has adhered to all corporate governance codes as per the listing rules during the reporting period[149] - The audit committee, along with management and external auditors, has reviewed the accounting principles and policies adopted by the group, confirming compliance with applicable accounting standards[152] - The company has not observed any violations of the conduct rules by employees during the reporting period[150] Future Plans and Investments - The group aims to enhance its gas supply assurance, safety assurance, and service assurance capabilities through a diversified business model involving gas, heat, cold, and electricity, transitioning from a gas supplier to a city green energy manager[120] - 20% of the net proceeds (RMB 47.4 million) will be used to upgrade the pipeline and operational facilities[154] - 30% of the net proceeds (RMB 71 million) is allocated for strategic acquisitions to expand the business into other regions, expected to be utilized by the end of 2024[154] - 30% of the net proceeds (RMB 71 million) is designated for expanding into distributed photovoltaic power generation, with RMB 21.7 million already used and the remainder expected to be utilized by the end of 2023[154] - 10% of the net proceeds (RMB 23.8 million) will promote the use of steam generated from natural gas boilers, expected to be utilized by the end of 2024[154] - 10% of the net proceeds (RMB 23.7 million) is allocated for working capital and general corporate purposes[154] - Total amount utilized from the net proceeds is RMB 92.8 million, with RMB 144.1 million remaining[154] Financing and Debt - The group had unused bank credit facilities amounting to RMB 655.0 million as of June 30, 2023[124] - The bank loans amounted to RMB 20,000,000 as of June 30, 2023, with a fixed interest rate of 2.40%[88] - The group obtained bank loans of RMB 20.0 million secured by pledged deposits as of June 30, 2023[126] - The group's financing costs for the period were RMB 1.9 million, an increase of 280.00% compared to RMB 0.5 million in the same period last year, mainly due to new bank borrowings and increased interest expenses[122]
湖州燃气(06661) - 2023 - 中期业绩